Turbine manufacturer Senvion SA has decided to spin off its Indian business as a stand-alone subsidiary.
"Senvion India Ltd. is in a unique position within our business as it offers the full scope of supply, service and manufacturing," Senvion CEO Yves Rannou said in an Aug. 5 statement.
Through a spinoff, Mumbai-headquartered Senvion India will be able to serve local clients in the best way possible by improving efficiency and streamlining operations, Senvion noted. The business unit will be given all licenses to extend necessary research and development know-how and technical support to strengthen its local capabilities.
Amid this development, Senvion remains focused on its accelerated process to sell the whole company.